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15 November 2017, 02:33 | Lena Norman
Plentiful global wheat supplies and a large Russian harvest have been putting downward pressure on prices. The U.S. Department of Agriculture last week trimmed its forecast of global 2017/18 wheat ending stocks, but the figure, at 267.53 million tonnes, remains at a record high.
A total of 95 percent of the US winter wheat crop is planted with 54 percent of the crop rated Good or Excellent, down 1 percent from the prior week.
Lower in narrow, rangebound trade amid a lack of market-moving news. USDA supply/demand reports last week raised estimates of the USA corn yield to a record-high 175.4 bushels per acre, topping trade expectations.
Lower on technical selling and benign crop weather in South America.
Flat to weaker in rangebound trade, hovering just above contract lows as the United States harvest progresses.
The USDA said private exporters sold 133,096 tonnes of US corn to unknown destinations for delivery in the 2017/18 marketing year, which began September 1.
CBOT November soybean and rough rice futures contracts expire at 12:01 p.m. CST (1801 GMT). Soybean production is expected to be down 1 percent to 252 million bushels, and sorghum production down 10 percent to 14.2 million bushels.
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